Pacific Villas

The acquisition of Pacific Villas preserved apartments with affordable rents without the use of larger public subsidies or the Low Income Housing Tax Credit program typically used to build and preserve affordable housing. Our partnerships with HPET and the City of Stockton allowed Linc to finance the purchase of these 86 units so that low-income households do not lose quality housing opportunities.

As a founding member of the Housing Partnership Equity Trust (HPET), Linc was able to purchase this existing apartment community and make much-needed exterior and sustainability renovations. Pacific Villas, originally built in 1979, is part of Linc Housing’s initiative to maintain affordable housing options throughout California. When for-profit developers purchase older multifamily properties in high cost markets and reposition them as luxury apartments, the supply of affordable housing is diminished, often spurring gentrification. Instead, a mission-driven organization such as Linc Housing can acquire the property, make needed improvements, and keep rents low for residents in need of affordable housing.